Atmos Energy 1997 Annual Report Download - page 52

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ATMOS ENERGY CORPORATION
Consolidated Five-Year Financial and Statistical Summary (1)
YEAR ENDED SEPTEMBER 30,
1997 1996 1995 1994 1993
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BALANCE SHEET DATA AT SEPTEMBER 30 (In thousands)
Capital expenditures.................................................................................................................................................................. $ 122,312 $117,589 $103,904 $ 85,471 $ 74,110
Net property, plant and equipment .......................................................................................................................................... 849,127 770,211 697,287 638,787 592,886
Working capital .......................................................................................................................................................................... (169,518) (102,764) (41,980) (32,340) (31,830)
Total assets ................................................................................................................................................................................. 1,088,311 1,010,610 900,948 829,385 786,739
Shareholders’ equity .................................................................................................................................................................. 327,260 329,582 304,349 267,584 251,317
Long-term debt, excluding current maturities.......................................................................................................................... 302,981 276,162 294,463 282,647 257,696
Total capitalization ..................................................................................................................................................................... 630,241 605,744 598,812 550,231 509,013
INCOME STATEMENT DATA (In thousands, except per share data)
Operating revenues ................................................................................................................................................................... $ 906,835 $886,691 $749,555 $826,302 $794,893
Gross profit ................................................................................................................................................................................ 329,654 324,412 300,158 297,020 289,393
Net income................................................................................................................................................................................. 23,838 41,151 28,808 26,772 29,694
Net income per share ................................................................................................................................................................ 0.81 1.42 1.06 1.05 1.21
COMMON STOCK DATA
Shares outstanding (In thousands)
End of year................................................................................................................................................................................. 29,642 29,242 28,246 25,911 25,183
Average ...................................................................................................................................................................................... 29,409 28,978 27,208 25,604 24,535
Cash dividends per share........................................................................................................................................................... $ 1.01 $ 0.98 $ 0.96 $ 0.91 $ 0.82
Shareholders of record .............................................................................................................................................................. 29,867 36,472 31,782 27,005 24,649
Market price – high.................................................................................................................................................................... $ 27 7⁄8$ 31 $ 20 5⁄8$ 21 1⁄8$ 20 5⁄8
low ..................................................................................................................................................................... $ 22 1⁄8$ 18 $ 15 7⁄8$ 16 3⁄8$ 13 1⁄2
end of year ........................................................................................................................................................ $ 24 7⁄8$ 23 3⁄8$ 19 3⁄8$ 17 3⁄4$ 20 1⁄4
Book value per share at end of year ......................................................................................................................................... $ 11.04 $ 11.27 $ 10.77 $ 10.33 $ 9.98
Price/Earnings ratio at end of year............................................................................................................................................ 30.71 16.46 18.28 16.90 16.74
Market/Book ratio at end of year.............................................................................................................................................. 2.25 2.07 1.80 1.72 2.03
Annualized dividend yield at end of year.................................................................................................................................. 4.1% 4.2% 5.0% 5.1% 4.1%
CUSTOMERS AND VOLUMES (as metered)
Gas sales volumes (MMcf) ......................................................................................................................................................... 164,208 178,293 166,656 170,691 166,065
Gas transportation volumes (MMcf) .......................................................................................................................................... 48,800 44,146 47,647 47,882 51,665
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Total volumes handled (MMcf)................................................................................................................................................... 213,008 222,439 214,303 218,573 217,730
Meters in service at end of year................................................................................................................................................ 985,448 976,308 949,213 943,728 888,315
Average meters in service ......................................................................................................................................................... 984,835 974,767 947,358 940,574 917,614
Heating degree days (Atmos only before ’96) .......................................................................................................................... 3,909 3,925 3,579 3,953 4,046
Degree days as a % of normal................................................................................................................................................... 98% 99% 90% 99% 102%
Average gas sales price per Mcf sold ....................................................................................................................................... $ 5.11 $ 4.51 $ 4.07 $ 4.41 $ 4.32
Average purchased gas cost per Mcf sold................................................................................................................................ $ 3.51 $ 3.15 $ 2.70 $ 3.10 $ 3.04
Average transportation fee per Mcf.......................................................................................................................................... $ 0.41 $ 0.43 $ 0.42 $ 0.45 $ 0.42
STATISTICS
Return on average shareholders’ equity ................................................................................................................................... 7.3% 13.0% 10.1% 10.3% 12.5%
Number of employees ............................................................................................................................................................... 2,679 2,863 2,944 3,052 3,105
Net plant per meter................................................................................................................................................................... $ 862 $ 789 $ 735 $ 677 $ 645
Utility operating, maintenance and administrative expense per meter................................................................................... $ 147 $ 194 $ 201 $ 214 $ 201
Utility customers per employee................................................................................................................................................. 392 341 322 309 296
Times interest earned before income taxes.............................................................................................................................. 2.04 3.00 2.44 2.45 2.47
(1) Amounts have been restated for pooling of interests with UCGC in July 1997 and Greeley Gas Company in December 1993, and share data have been adjusted for a 3-for-2 stock split in May 1994.